Life Insurance Policies
How is a labor union group life plan ordinarily arranged?
Answer and explanation
Answer: D. The union is the policyholder and its members are the insureds, which lets cover follow the member between employers in the trade. The union is not the producer, and the contract is not made employer by employer.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, labor union group
More life insurance policies questions
- What happens to the cost of an increasing term benefit as the insured ages and the coverage amount rises?
- What happens under a whole life policy if the insured lives to the contract's maturity age?
- What is distinctive about the cash value of a single premium whole life policy in its first year?
- What is experience rating in a group life plan?
- What is limited about a limited payment whole life policy?
- What is the difference between the guaranteed and the current premium shown for a level premium term policy?
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